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Title: Mining rig scam? Post by: Tobias on September 13, 2013, 01:51:37 AM I am new to bitcoin mining hence the newbie forum, but I was just wondering if a company like butterfly labs could make a 600 gh/s piece of equipment for under 5000$ why wouldn't they just mine with it themselves and make countless times more money than they would by selling them? It seems really fishy to me.
Title: Re: Mining rig scam? Post by: Foxpup on September 13, 2013, 02:26:12 AM For the rather obvious reason that mining isn't a sure way to make money (bitcoin price may crash, difficulty could increase dramatically, other unforeseen events may happen), while selling miners is a sure thing. In a gold rush, it's not the miners who get rich, but the guys selling shovels.
Title: Re: Mining rig scam? Post by: Tobias on September 13, 2013, 05:52:14 AM For the rather obvious reason that mining isn't a sure way to make money (bitcoin price may crash, difficulty could increase dramatically, other unforeseen events may happen), while selling miners is a sure thing. In a gold rush, it's not the miners who get rich, but the guys selling shovels. That's what I always say, and I am trying to think of a new "shovel" to sell, but the amount of money they would make is ridiculous and they could have earned back their investment tenfold by now |